Kenya Re Shrugs Off Negative Sentiment From CEO Suspension

Kenya Re-Insurance Corporation (KNRE), with a market capitalization of KSh 18.4 billion, was on Tuesday one of the top price gainers when the trading session ended at the Nairobi Securities Exchange (NSE).

This performance comes as investors priced in the negative sentiments that followed suspension of its Managing Director Dr. Hillary Maina Wachinga and the HR Manager for 21 days, pending the outcome of what the firm’s Board of Directors described as ‘internal investigations’.

Mr Nicodemus Gekone, the firm’s general manager for property and investments, is now acting as the Managing Director. “While the Board can Kenya Re did not like the job reshuffles and firings that the MD and HR Manager executed at the firm, the market appears to have considered these matters as trivial hence the stock is rallying up,” said an investment insider.

Kenya Re ended the day at KSh 3.29, a 9.7% gain over the previous day’s closing price of KSh 3.00. The listed firm is engaged in the underwriting of all classes of reinsurance business and investment activities. It also offers risk management services to its clients.

Kenya Re began the year with a share price of KSh 1.28 and has since gained 157% on that price, placing the counter as the 7^th on the NSE in terms of year-to-date performance. Figures also indicate that it is the second most traded counter at the NSE between June and September 9th 2025.

Local Individual Investors own 15.94%, Local Institutional Investors 78.98% and Foreign Investors own 454 142,322,105 shares or 5.08%. Some of the individual shareholders include Kerai, Harji Mavji; Mavji, Ramila Harji 0.98%, Brandt, Jonathan Lawrence 0.67% and Others 28.05%.

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